$PAXG Remember these levels: $3,628, $3,510, and $3,440.
I predict that one of these levels will mark the bottom of gold’s correction. From there, we’ll head toward a new ATH.
A move to any of these levels would complete the mission of this massive correction: liquidating long positions, shaking out weak hands, allowing shorts to take profits, and making bears hesitant to open new short positions.
Gold & Silver Weekly & Monthly Update: October was brutal for gold, the worst monthly performance since 2008. We closed the week and month at $3,875, marking a new low for 2026. Daily RSI is oversold yet overall momentum remains bearish. A short-term recovery next week toward $4,000 to test it as resistance looks highly likely. Beyond that the next major downside target sits around $3,750. From there, another bounce toward the $3,850–$3,900 zone is likely. By then, broader market and macro developments should give a clearer picture of how gold behaves into December and early 2027 and whether the $3,750 area marks a bottom or if lower levels around $3,400–$3,600 come into play. My plan as outlined earlier: • Long opportunity from 3870-3880$ targeting $3,980–$4,010 • Then a short setup from the $4,000 area targeting $3,750–$3,800
Silver acted differently, refusing to follow gold during its latest drop and managing to hold the $49. Down nearly 60% from its ATH, a relief bounce toward $55–60 range is highly likely followed by another leg down toward the major support level at $45.
This is not financial advice. My analysis is for educational purposes only. Trade carefully and good luck! $PAXG $XAG
Last week $XAUT analysis played out well. We closed the week and the monthly candle at $3,875. I will post gold weekly update soon.
Hatokai
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Bearish
$PAXG WEEKLY UPDATE: Gold has closed below $4,000 for the first time in the past 12 months. Bearish momentum remains strong and I expect a test of at least $3,900 next week before any signs of recovery appear. The upcoming FOMC meeting will set the short-term direction and based on the latest reports the Fed relies on the bias looks bearish. The next major support sits at $3,800. Closing under $4,000 means further downside is now on the table. $4,235 is an important resistance level as it marks the low that formed around the last Fed rate hike. If gold manages to break above it and establish the level as support, investors would interpret this as gold having absorbed the pressure from rate hikes and a stronger DXY. Next week should give us a much clearer picture of the market.
I closed my $BTC short yesterday to wait for confirmation of the weekly candle close. I expect BTC to retest $80,500 soon. If we get rejected at that level, I’ll look to open a large short position.
$XAG has lost the critical $55 support and is now trading around $54. A retest of $55 is coming soon. If price gets rejected there and $55 flips into resistance, that could present a BIG short opportunity.
I’ll be looking to open a large 30x leveraged short if the setup confirms.
$PAXG WEEKLY UPDATE: Gold has closed below $4,000 for the first time in the past 12 months. Bearish momentum remains strong and I expect a test of at least $3,900 next week before any signs of recovery appear. The upcoming FOMC meeting will set the short-term direction and based on the latest reports the Fed relies on the bias looks bearish. The next major support sits at $3,800. Closing under $4,000 means further downside is now on the table. $4,235 is an important resistance level as it marks the low that formed around the last Fed rate hike. If gold manages to break above it and establish the level as support, investors would interpret this as gold having absorbed the pressure from rate hikes and a stronger DXY. Next week should give us a much clearer picture of the market.